The Final Property Expo in Penang for 2012 held in conjunction with MEGA Home 2013 at PISA – last chance to catch the best buys in properties for 2012 in Penang.
MANY Penang Global City Centres (PGCC) may come up on Penang island following the raising of density for high-rise buildings, said a former Penang municipal councilor.
Teh Leong Meng, who is a Gerakan leader, said this would result in traffic congestion and transportation woes.
He said the Penang Municipal Council (MPPP) had in June 2010 raised the density to enable developers to build 87 units per 0.404ha or 120 units per 0.404ha if the project involves low-cost or low medium-cost units.
Previously, the density was 30 units per 0.404ha.
Teh said the former state administration did not approve the PGCC which was supposed to be built on Penang Turf Club grounds in Batu Gantong due to non- compliance with density requirements.
He said there was a proposal to build 40 blocks, each about 40-storey high at the site. There were also plans to build two five-star hotels.
“The project was scrapped due to strong opposition from the public. Traffic congestions will surely take place everywhere with the new guidelines,” he said during a forum on “Say No to 87 units Per Acre” at a hotel in Jalan Sultan Ahmad Shah here on Wednesday evening.
Teh was one of the three speakers at the forum. The other two were Penang Citizens’ Awareness Chant Group representative Prof Dr Jimmy Lim who is an architect and Yan Lee, a resident of Pykett Avenue.
State Local Government and Traffic Management Committee chairman Chow Kon Yeow had said that the density guidelines were still being fine-tuned.
Lim questioned whether an increased in development density would bring any social or environmental benefits to the people.
He added that development should be well thought and planned to complement the cultural norms of the place, lifestyle, tradition, culture, environment, heritage, trees and hills.
“Architecture is all about people. But Penang is fast becoming a messed-up city, with high-rise buildings taking place everywhere,” he said.
Citing an example, he said development could take place in the mould of Shanghai in China.
He said all the old architecture built by Russians, French, Germans and others were left intact and well preserved in Shanghai.
“The Government did not demolish such buildings in the old Shanghai to make way for development. Instead, all the crowded-skyscrapers were built in Pudong new area of Shanghai.
“This shows that the leaders have a vision.
“Similarly, the old city of George Town and its surrounding heritage buildings or bungalows should also be left untouched.
“The state government can have all its tall buildings built in other areas such as Bayan Baru,” he said.
Source: The Star
AT first thought, it might appear prudent to pay off a property loan as quickly and as soon as possible. However, is this really the wisest and smartest financial decision? Consider using cheaper home loans to grow your net worth. – LEE MUN WAI writes…
Home loans usually have lower interest rates than vehicle loans and other unsecured credit, because the use of a home as collateral reduces the lenders risk of financial loss.
People can refinance an existing loan and extract additional funds to pay off credit cards and other debts. Refinancing enables homeowners to lower their overall monthly payments or frees up funds for other purposes and simplify their lives by having to make just one payment.
Refinancing a RM1mil, 30-year loan from 7.5% to 6.5% would save more than RM240,000 in interest over the life of the loan, or more RM150,000 in today’s dollars given a present value discount of 3%, all other elements remaining equal. Despite market turmoil, interest rates remain at attractive levels.
Alternatively, consider investing the additional funds into solid, reputable investments (such as unit trusts,Amanah Saham Malaysia, real estate investment trusts, etc) that can potentially give you returns in excess of what your home loan is costing you.
If your home loan is costing you 5% but you can derive returns of 8% from your investments, you are growing your net worth by 3%!!
Start comparing loans from several different financial institutions before deciding and get information in writing.
Carefully consider your cashflow situation, if you have the income to handle your new refinanced home loan obligations, it might just be more prudent to refinance that house of yours and start growing your net worth. Seating your assets and start letting them work for you.
Source: The Star
ALOR SETAR: Housing developers who advertise their projects in newspapers without permits from the National Housing Department (NHD) risk facing legal action.
Housing and Local Government Minister Datuk Seri Chor Chee Heungsaid he recently discovered that private developers were advertising their housing projects without the necessary permits.
“There are developers who have received notices from the ministry for breaching the Housing Development (Control and Licensing) Act 1966 by not applying for the permits. If they are found guilty, they face a maximum fine of RM250,000.
“So far, no one has been fined,” he said after handing over keys to house owners of the revived housing project of Taman Sri Derga Fasa III here yesterday.
Chor also urged newspapers to be more careful and verify permits with the developers before accepting the advertisement.
He said Taman Sri Derga was the 113th out of the 178 abandoned projects in the country since 2009 which had been successfully revived by NHD.
Chor, who is Alor Setar MP, also said that of the 11 abandoned private housing projects in Kedah, six had been revived by NHD.
The rest were under rehabilitation status.
He encouraged developers to implement the build-and-sell concept by starting with small projects involving about 10 to 20 units of houses.
Earlier, Chor attended a briefing on Duties and Responsibilities for Licensed Housing Developers Northern Region organised by the Real Estate and Housing Developers’ Association Malaysia Kedah/Perlis branch.
In his opening speech, he said the Housing Development (Control and Licensing) Act 1966, which was approved by Parliament last year, was expected to be implemented early next year.
He also urged developers to be more responsible when undertaking housing projects as legal action would be taken against those who abandon the projects.
Source: The Star
Venn Signature, a gated and guarded residential development by Venn Group near Jalan Raja Uda. Strategic location with easy access to schools, wet market, banks and restaurants.
Comprises 3-storey terrace houses with build size ranging from 3,490 sq.ft. onwards. Features include 2 spacious master bedroom, security guard house and 24 hours CCTV monitoring.
Property Project : Venn Signature
Location : Raja Uda, Butterworth, Penang
Property Type : 3-Storey Terrace
Tenure : Freehold
Built-up Area: 3,490 sq.ft. onwards
Land Area: 20′ x 80′ ft. (standard unit)
Developer : Venn Group
